USD/INR Technical Analysis: Hourly chart favors a minor pullback

  • USD/INR could be in for a minor pullback, having closed above 69.00 for the first time ever.
  • The hourly chart shows bearish price RSI divergence.
  • Acceptance below 69.00 would validate the preceding doji candle and would allow a minor drop to $68.70. 

Hourly chart

Spot Rate: 69.02

Daily High: 69.04

Daily Low: 68.86

Trend: minor correction likely

Resistance

R1: 69.18 (record high)

R2: 70.00 (psychological hurdle)

Support

S1: $68.86 (support on hourly chart)

S2: $68.70 (50-hour moving average)

 

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